Q3 2024 RPM International Inc Earnings Call Transcript
Key Points
- RPM International Inc (RPM) achieved its ninth consecutive quarter of record sales and EBIT results.
- The company generated $1,260 million in cash flow from operating activities during the trailing 12-month period, a record high.
- Sales growth was led by the Construction Products Group and Performance Coatings Group, benefiting from infrastructure and high-performance building projects.
- Positive momentum with RPM's MAP 2025 operational improvement initiatives continued, contributing to margin expansion.
- Emerging markets led growth for the company, with strong demand for RPM's engineered solutions for infrastructure investments.
- Volume declines in the Consumer and Specialty Products segments continued due to challenging market conditions.
- Consumer segment was negatively impacted by lower DIY takeaway and retail customers managing inventory levels tightly.
- Specialty Products Group sales declined primarily due to challenging comparisons in the disaster restoration business.
- On a consolidated basis, pricing during the quarter was up approximately 1%, indicating a slowdown in the ability to raise prices.
- The Specialty Products Group faced a reduction in adjusted EBIT due to sales and volume declines in the disaster restoration business.
Good morning, everyone, and welcome to the RPM International's Fiscal Third Quarter 2024 Earnings Call. (Operator Instructions) Please also note that this event is being recorded.
At this time, I'd like to turn the floor over to Matt Schlarb, Senior Director of Investor Relations. Sir, please go ahead.
Thank you, Jamie, and welcome to RPM International's Conference Call for the Fiscal 2024 Third Quarter. Joining today's call are Frank Sullivan, RPM's Chair and CEO, who is dialing in remotely today; Rusty Gordon, Vice President and Chief Financial Officer; and Mike Laroche, Vice President, Controller and Chief Accounting Officer. This call is also being webcast and can be accessed live or replayed on the RPM website at www.rpminc.com.
Comments made on this call may include forward-looking statements based on current expectations that involve risks and uncertainties, which could cause actual results to be materially
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